Interest rates for State credit programs reduced

 Accordingly, the interest rates for loans designed for poor households, students, policy beneficiaries working abroad will be reduced from 7.2% per year (0.6% per month) to 6.6% per year (0.55% per month).

The interest rates for loans for programs on rural safe water and environmental hygiene and households’ production and business in disadvantaged regions will be cut down from 9.6% per year (0.8% per month) to 9.0% per year (0.75% per month).

The decision will be effective from June 5 and applied to new loans from the decision’s effective date.

According to the VBSP’s report, for the 12 years since its establishment, the bank has mobilized nearly VND137 trillion (US$6.3 billion), of which VND129.456 trillion (US$6 billion) has been disbursed as of December 31, 2014.

Statistics show that over 25.5 million poor households and policy beneficiaries have benefited from the VBSP’s capital, helping over 3.6 million households escape from poverty and 3.3 million poor students to continue schooling, creating over 11 million jobs, building over 6 million safe water supply facilities and standard toilets in rurl areas, among others.

(Source:VGP)